We study the association between the stock liquidity of SMEs in the US and their likelihood of bankruptcy, using a … substantial heterogeneity across industries regarding the predictive power of the liquidity measure on the likelihood of … performance tests conclude that adding a liquidity measure variable to the Campbell et al. (2008) model improves its predictive …

hold sizeable toeholds in target shares. On one side, via liquidity transferring, acquirers can effectively transfer their … thinner liquidity discount on the valuation of their toeholds in fully acquired target assets. On the other, their long …-run stock liquidity can improve following the removal of their targets from the exchange. Using a sample of US delisted targets …

in equilibrium such that observed spreads can appear invariant to expected liquidity …